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The breakeven price for North American shale oil was US$68 a barrel in 2015, making it one of the most expensive to produce. By 2019, the "average Brent breakeven price for tight oil was about US$46 per barrel. The breakeven price of oil from Saudi Arabia and other Middle Eastern countries was US$42, in comparison. [141]
Oil shale economics deals with the economic feasibility of oil shale extraction and processing.Although usually oil shale economics is understood as shale oil extraction economics, the wider approach evaluates usage of oil shale as a whole, including for the oil-shale-fired power generation and production of by-products during retorting or shale oil upgrading processes.
Oil rose for the first week of 2024 due to the Israel-Hamas War threatening to become a larger conflict, and positive U.S. economic news. Brent finished at $78.76 and WTI at $73.81. [49] Continuing Houthi attacks disrupted oil trading and increased costs, driving up oil prices. Brent finished January at $80.55 and WTI at $75.85. [50]
Even with oil prices surging toward $75 a barrel, U.S. shale producers are keeping their pledges to hold the line on spending and keep output flat, a departure from previous boom cycles. This year ...
The term was defined on May 8, 2015 by Olivier Jakob, the director of Petromatrix, a Swiss-based consultancy company that publishes a daily note on the oil markets. Petromatrix described the shale band as a price range between $45 and $65 per barrel for West Texas Intermediate (WTI) crude oil. Below $45 per barrel, production of US shale oil ...
U.S. shale oil producer Pioneer Natural Resources on Monday reported it lost $501 million on oil and gas hedging in the third quarter, according to a securities filing, as energy prices have ...
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About one sixth of the oil shales in the Green River Formation have a relatively high yield of 25 to 100 US gallons (95 to 379 L; 21 to 83 imp gal) of shale oil per ton of oil shale; about one third yield from 10 to 25 US gallons (38 to 95 L; 8.3 to 20.8 imp gal) per ton. (Ten US gal/ton is approximately 3.4 tons of oil per 100 tons of shale.)